The company that owns Volvo is selling a 665 kilometers (413 miles) range EV sedan in China for less than $25,000
Geely Galaxy E8 Goes On Sale For Less Than $25,000
https://insideevs.com/news/703666/geely-galaxy-e8-china/
This reasonably-priced sedan aims to get even more Chinese drivers out out of their ICE cars, and in to EVs. The Geely Galaxy E8 is sized and priced similar to a Honda Accord.
It's kind of depressing to see the EV prices available in China and compare it with the prices available in Europe. Hell, there are only three sub-30000€ EVs available on the German market, after two models were discontinued last year
In the USA you can get like $7000 back from the government when you buy an EV, but the manufacturers are hip to that and price them to absorb that credit. Then of course that doesn't help anyone buying them used or certified pre-owned. Oh, and they were talking about eliminating that credit last time I checked. QQ
The exchange rate does not directly correlate to purchasing power. There are many factors that go into it.
According to OECD (2024), Purchasing power parities (PPP) (indicator). doi: 10.1787/1290ee5a-en (Accessed on 09 January 2024)
The other poster didn't say anything about the exchange rate, they said Purchasing Power. The PPP (Purchasing Power Parity) between USD and the Yuan was 3.989 for 2022. So a 25k vehicle in the PRC is basically a 100k vehicle in the USA.
You can purchase some excellent EVs in the United States for $100,000.
I wouldnt be too worried. the destruction they are wreaking is making for some great entertainment.
Could they not have possibly squeezed one more km out of that thing? Very disappointing :(
A lot of very cheap Chinese cars do not comply with a lot of the safety regulations or crash test requirements.
Also they often have fun things like asbestos firewalls and exhaust fillers.
I’d have to assume Volvo didn’t specifically make their shittiest vehicle ever to send to China?
This car is no more a Volvo than a fiat is a Ferrari. Just because the company also owns the Volvo brand doesn't make a car under a completely different brand a Volvo.
Why would you assume this. Let's say the average income is half what it is in America, and the safety regulations are more lax. Do they make a car they can sell in America that (almost) no one in China can afford, or do they make a car they can't sell in America, but a lot of people can afford?
While the price of this car is pretty cheap in dollar terms, it's pretty expensive if you compare it to their PPP, so the whole argument becomes somewhat moot. That said, there were a number of interesting and very economical cars made or sold in India in the last 10 years that would never pass regulations in Europe or America, for the exact reasons I listed above.